Whether it’s a contract, an insurance policy or another provision governing a construction project, all terms are spelled out in black and white – or they should be. If not, the risk for claims and disputes usually rises, often dramatically. Construction contracts alone can make or break projects before shovels hit the dirt, depending on whether the terms and conditions …
Managing Risk Can Be Contractors’ New Competitive Advantage
A major shift in the construction industry as it has recovered from the Great Recession is increasingly complex building projects with shorter deadlines. The dynamic has created increased and novel risks. Since bonding is a crucial risk-management tool in construction, surety-bonds experts need to constantly keep their finger on the pulse of the industry. Based on sureties’ understanding of how …